CGI delivers: Montreal-based information-technology giant CGI had a huge fourth quarter. On Wednesday, the company reported net earnings of $274.4 million, up almost 18 per cent, with revenue hitting $2.6 billion, up 2.8 per cent, for the three months ended Sept. 30. For the full year, revenue rose almost 4 per cent, to $10.7 billion, and net earnings hit $1.1 billion, an increase of 9.3 per cent. “I am very pleased with the performance in the quarter as we continue to deliver earnings expansion and increasing revenue growth,” said George Schindler, president and chief executive officer. “Entering fiscal 2017, we are well positioned financially and operationally to capitalize on both build and buy growth opportunities.”

Not much gusto: Wind-power producer Boralex Inc. underwhelmed with its figures for the third quarter ended Sept. 30. Revenue from energy sales was stable at $53.9 million, but the Montreal-based company recorded a net loss attributable to shareholders of $10.4 million (compared to a loss of $15.4 million in 2015). Chief executive officer Patrick Lemaire said that “despite these lower-than-expected results stemming from weather conditions and beyond our control, we keep developing our projects while continuing to enhance our pipeline.”

Peso pounded: The Mexican peso is taking a beating as Donald Trump’s victory in U.S. presidential elections raised the prospect that two decades of Mexican economic integration with its northern neighbour will unravel. The currency sank 7.7 per cent to 19.7367 per U.S. dollar Wednesday morning in New York, after earlier dropping as much as 12 per cent. Analysts at Nomura Holdings Inc. and Capital Economics say the currency may fall to as low as 25 per dollar in the aftermath of Trump’s victory. “The peso is the No. 1 target and it’s in the eye of the storm, not just because of trade,” said Phoenix Kalen, a strategist in London at Societe Generale SA, which sees the currency depreciating to 23 per dollar. “There are also questions around deportation of millions of Hispanic immigrants from the U.S., the repatriation of tax receipts. All of those channels affect the Mexican peso.” Mexican exports to the U.S., its biggest trading partner, were more than 10 times the amount for fellow NAFTA member Canada in 2015, according to data compiled by Bloomberg. As well as his hostility to the trade agreement implemented in 1994, Trump has also proposed making Mexico pay to build a wall along the border by blocking immigrant remittances.

Real-estate blues: Real estate firm Cushman & Wakefield is ranking Calgary with Moscow, Houston, and Aberdeen, Scotland, as the “oil-centric cities” whose downtown office real estate markets have been hardest hit by the global oil price shock. In a new report, it predicts the vacancy rate for downtown Calgary’s Class-A buildings — the best quality offices in the tallest buildings — will hit 27.5 per cent by the end of next year, the highest since the company began tracking numbers in 1985. Canadian research director Stuart Barron said the estimation will likely be revised higher in coming weeks due to slowing demand and the addition over the next year of about 2.7 million square feet in buildings under construction.” Right now the number is probably closer to 30 per cent that we’re comfortable with. It’s quite extraordinary,” Barron said. He said the previous high Class-A vacancy rate in the city was 17.3 per cent in 1992. The Cushman & Wakefield report says Calgary was able to absorb the highest downtown office growth rate in Canada over the 15 years before the oil price crash, but 4.3 million square feet of downtown space in all classes has been returned to the market over the past two years. “The availability in downtown Calgary is almost 50 per cent sublet,” said Barron. “These are tenants bringing back space that they simply no longer need.”

Recovery after a fall: Stock markets in Europe initially reacted with steep losses to the stunning election victory of Donald Trump, but softened those losses as the day progressed. Asian markets were down anywhere from 0.6 to 5.3 per cent, with Japan’s Nikkei getting hit the hardest. The Canadian dollar took a quick hit and briefly fell below 74 cents (U.S.) before recovering to 74.5 cents (U.S.), about where it’s been for two weeks. Crude oil is stable at $44.90 (U.S.) a barrel.

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